Te tukanga puka tāke ā-tau File an annual return for a New Zealand foreign trust

From the homepage in your myIR account, select:

• 'Returns and transactions' on your New Zealand foreign trust account
• the 'Periods' tab
• 'File return' on the tax year you're filing for.

You'll need to tell us whether all of the resident foreign trustees are:

• natural persons
• not in the business of providing trustee services.

This is your chance to update us if the trustees change.

You'll also need to tell us if, during the tax year, the trust:

• received any settlements
• made any distributions.

To change any details for connected persons, click on the tab with their name and role. You can also click on their role in the list to bring up each person's details.

If the trust has new connected persons, you'll need to click on 'Add new connected person'.

For each person connected to the NZFT, you'll need to provide their:

• name
• role - that is, connection to the trust
• taxpayer identification number in their jurisdiction of tax residence, or IRD number if they are a New Zealand tax resident
• address and contact details.

You'll need to make a declaration that the NZFT's connected persons have agreed to provide us with certain information.

You'll be able to make additional notes, as well.

Roles for connected persons of New Zealand foreign trusts

Click on 'Add new settlement or distribution' for each entry. You'll need to tell us the:

• type of transaction - settlement or distribution
• full name of the person making or receiving it - for them to appear as an option, you'll need to be sure they've been disclosed as a settlor or beneficiary
• type of settlement or distribution - cash, services, land, shares, financial arrangements or other
• date paid or credited
• currency
• amount in the selected currency.

You'll be able to list additional details, too.

You'll need to upload the NZFT's financial statements for the tax year. They must comply with the minimum standards for financial statements.

Minimum standards for financial statements

The fee for annual returns is $50, GST included. If you are required to pay it, this step will come up as part of the process.

If you have a direct debit agreement with us and you want to use it to pay the fee, select:

• 'Yes' to 'Do you want to make a direct debit payment?'

If you want to pay another way, click 'No' to this question. Finish the rest of your annual return and the fee will show up as an amount owing on your 'NZ foreign trust' account. Click on the account and select 'Make a payment' under either the:

• 'More' section on the New Zealand foreign trust account
• 'I want to...' section.

If the trust has stopped being an NZFT during the tax year, click:

• 'Yes' to 'This is the final return for this account.'

If the NZFT will keep on operating, click 'No'.

If your trust has stopped being an NZFT during the tax year, you'll also need to cancel the trust's registration.

Cancel a New Zealand foreign trust's registration

Make sure all of your details are right. You can make changes by clicking on the tab you want to edit.

If the information you've given is correct, check the declaration box and submit the NZFT's return.